BioMarin: Q3 Earnings Snapshot

SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Monday reported a loss of $122.8 million in its third quarter.

The San Rafael, California-based company said it had a loss of 63 cents per share. Earnings, adjusted for one-time gains and costs, came to 23 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The rare disease biopharmaceutical posted revenue of $1.02 billion in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $1.03 billion.

BioMarin expects full-year earnings in the range of $2.80 to $3.10 per share, with revenue in the range of $3.8 billion to $3.9 billion.

BioMarin shares have declined 3% since the beginning of the year. In the final minutes of trading on Monday, shares hit $57.56, an increase of slightly more than 7% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMRN at https://www.zacks.com/ap/BMRN